Repsol says wants money for YPF, not assets

MADRID: Spanish oil major Repsol wants to be paid for the loss of its YPF business in Argentina rather than accepting assets as compensation, Chairman Antonio Brufau told shareholders on Friday.

Brufau said he was willing to negotiate with Argentina over the expropriation of its stake in YPF last year but that any agreement is still "very, very far away".

Argentina is short on cash, making it difficult to pay Repsol the $10.5 billion at which YPF has been valued.